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The Toronto-based mergers-and-acquisitions firm has advised on the closing of more than 160 dealerships in deals worth more than $3 billion. Its expansion into the U.S. market will be led by industry veteran Russell Hill.
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For the seventh time since 2015, the Federal Reserve increased the Federal Funds Rate a quarter percentage. Cox Automotive economists say higher interest rates and tighter credit have already led to softening retail demand, noting that further rate increases will impact all corners of the car business.
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The latest Blue Sky Report from Kerrigan Advisors credits an expanding pool of dealership buyers and investors with helping to sustain values, and a growing number of groups hitting the market for driving activity and consolidation.
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NextGear Capital’s new self-reconciliation tool tackles a key dealer pain point in the auditing process.
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Although shoppers continue to flock toward pricier trucks and SUVs, steadily rising gas prices are beginning to stimulate consumer demand and increase residual values for smaller vehicles.
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The firm named Steve Langdon, who joined the KAR family 15 years ago, to the role. The more than 20-year industry veteran will be responsible for implementing the ADESA Canada dealer sales strategy and promoting KAR’s integrated digital, mobile and physical auction services.
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SpringStack is an end-to-end auto finance platform designed to power a direct-to-consumer online experience for banks and other finance sources. It supports multiple financing product options and offers real-time loan configuration, document upload, vehicle valuation and pricing, electronic signature and more.
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Located at Manheim San Francisco Bay, the auction provider’s new retail reconditioning center was designed to serve clients’ growing and diverse needs.
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Set for mid-October in Orlando, this year’s Industry Summit will include several new features and events, including the inaugural Technology Shootout.
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Singlethread makes the case for equipping the entire service department team with advanced communication, inspection, and reporting tools to speed up the repair process and improve customer service.
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